Nigerian Stocks Decline Despite Gains from NGX, Seplat

For the week ending September 11, 2026, the Nigerian equities market closed with a cumulative loss of N1.97 trillion in market capitalization, resulting in a total of N157.587 trillion, down 1.24% from N159.558 trillion. The benchmark All Share Index fell 1.6% week-on-week, closing at 243,052.74 points, down from 246,992.44 points.

Heavy selling pressure in the insurance, banking, and industrial sectors was noted ahead of the Dangote Refinery IPO opening on September 14. The index reached a weekly low of 242,223.10 points on September 9 before a modest recovery.

NGX Group Plc led the gainers with a 13.85% increase to N148.00, followed by Ellah Lakes at 13.33% and Seplat Energy at 10.00%, closing at N14,907.80. Despite the overall market decline, the year-to-date return remained strong at 56.19%.

Market breadth was negative, with only nine stocks appreciating against 80 that depreciated. The Oil & Gas Index rose by 2.83%, while the Commodity Index increased by 2.19%.